Report: Apple Working on iOS-Based Wristwatch

Apple may be working on an iOS-based wristwatch that could be used to make mobile payments, according to a report published in the New York Times on Sunday.

An anonymous source told the Times that Apple is experimenting with "wristwatch-like devices" made from curved glass. The source said the watch would differntiate from similar products on the market by how the brand of glass Apple is working with can "curve around the human body."

That curved glass is probably provided by Corning, maker of the Gorilla Glass that adorns the iPhone 4, 4S and 5. Corning previously said it has developed a bendable glass, called Willow Glass, that can bend without breaking.

Apple has hit a rough patch recently, as it struggles to meet the feature set included in competing Android devices from OEMs like Samsung and HTC.

Rumors were renewed this week in various reports that Apple will launch both an iPhone 5S, as well as larger 5-inch iPhone model this year.

The iPhone controlled 53 percent of the U.S. smartphone market, up from the 37 percent last year, according to recent numbers from from Kantar Worldpanel ComTech. Android meanwhile grabbed 42 percent, down from 53 percent a year ago.

Still, support for Apple appears to flagging overseas. In England, Germany, France, Italy, and Spain, Android took 61 percent of the market, up from 52 percent last year.